Browsing all articles tagged with reversal
Nov
13

EUR/USD D1 Technical November 13

On daily chart EUR/USD remains on the downside for the moment and correction from 1.3171 could go deeper to 61.8% retracement of 1.2036 to 1.3170 at 1.2471. On the upside, above 1.2789 minor resistance will turn outlook neutral . But break of 1.2882 is needed to be the first sign of reversal. Or risk will now stay on the downside. Federal Budget Balance and FOMC Member Yellen Speaks can affect the rate of pair.

Sep
10

USD/CAD D1 Technical September 10

On daily chart USD/CAD remains on the downside for the moment and current fall from 1.0445 should target 100% projection of 1.0656 to 0.9799 from 1.0445 at 0.9598. Thus, we’d focus on reversal signal again near to 0.9598. Though, break of 0.9948 resistance is needed to indicate short term reversal or outlook will stay bearish. And, sustained break of 0.9598 could pave the way to retest 0.9406 low.

Sep
7

USD/CAD D1 Technical September 7

USD/CAD continue its downward movement and its very near to 0.9799 which is very strong support zone the cable should bounce back, so we recommend buy deals as the cable reaches the support area. clear break of 0.9917 will confirm the reversal. we also have to keep a close eye on the data relating Non-farm payrolls which can affect the rate of pair.

Sep
5

USD/CAD D1 Technical September 5

No change in USD/CAD’s outlook. While fall from 1.0445 might extend lower, downside should be limited. We view fall from 1.0445 as a corrective move and expect strong support ahead of 0.9799 to contain downside and bring reversal. On the upside, above 0.9948 minor resistance will flip bias back to the upside for 1.0065 support turned resistance. Break will confirm completion of corrective fall from 1.0445 and target 1.0231 resistance and above. BOC Rate Statement, Overnight Rate  can affect the rate of pair.

Aug
28

EUR/GBP D1 Technical August 28

On daily chart  EUR/GBP’s outlook remain neutral, As it’s staying below 0.7962 resistance, larger decline from 0.9083 is expected to resume sooner or later. Below 0.7811 should turn bias back to the downside and send the cross through 0.7755 low to 0.7692 key support level next. Though, note again that break of 0.7962 resistance will now be an early sign of reversal and should turn focus back to 0.8152 resistance instead.

Aug
22

EUR/GBP D1 Technical August 22

EUR/GBP’s outlook at this point, we’ll stay warily bearish as long as 0.7945 resistance holds. Below 0.7811 will target 0.7755 low first and break will confirm fall resumption for 0.7692 key support level next. However, break of 0.7945 resistance will now be an early sign of reversal and should turn focus back to 0.8152 resistance instead.

Aug
21

USD/CAD H4 Technical August 21

USD/CAD does not manage to close above the resistance today, but we expect that the cable must retest the resistance and if the cable mange to close above the resistance this will indicate bullish strength. Secondly, we’re viewing such decline as a corrective move and expect strong support ahead of 0.9799 to contain downside. Hence, we’d remain focused on reversal signal.

Jul
30

USD/CAD D1 Technical July 30

On daily chart USD/CAD remain on the downside and will have a support at 1.004 which if breaks confirms that the cable should test 0.9799 low while on the upside break of 1.0231 resistance is needed to indicate near term reversal. Otherwise, outlook will remain mildly bearish.

Jul
13

USD/CHF D1 Technical July 13

 USD/CHF continues to lose upside momentum, there is no sign of topping yet. The cable will  remains on the upside for 0.9900  resistance level. As noted before, there can be a reversal signal . On the downside, break of 0.9792 minor support is needed to signal short term bearish trend.